Korea Post Talks with Goldman Sachs to Gain Insight on Cryptocurrency

Bloomberg reported on the 5th that South Korea’s state-run postal service Korea Post plans to talk with Goldman Sachs executives to gain insight on cryptocurrency.

The Korea Post, which oversees a $112 billion investment fund, met with Golden Sachs CEO David Solomon in New York to discuss cryptocurrencies. Korea Post CEO Kang Sung-ju also said he plans to meet with Hong Kong’s cryptocurrency team, which Goldman Sachs launched earlier this year.

“I asked Goldman to share knowledge on cryptocurrency,” he said.

“Cryptocurrencies have potential and many people are interested. We need to grasp the strengths and weaknesses of cryptocurrencies.”

The Korea Post stated that there are no plans for any type of cryptocurrency investments, but still emphasized that it should grasp, rather than circumvent, cryptocurrencies.

On the day this news was reported, there was a report that Goldman would cancel the opening of the cryptocurrency trading desk. However, the company’s CFO Martin Chavez asserts that the report is “fake news.” He said he is promoting the development of Bitcoin derivatives.